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Jet Airways, once India‘s second-biggest carrier, is to be liquidated, the country’s Supreme Court ruled Thursday, ending a tumultuous five-year insolvency resolution saga for the bankrupt airline.

The backers of India’s Jet Airways have taken an important step toward relaunching the carrier by making a major debt payment. The Jalan-Kalrock consortium confirmed it injected INR1 billion ($12.1 ...

An Indian court ruling has given the owners of Jet Airways until Jan. 31 to make another substantial payment to creditors, which presents another hurdle in the airline’s restart plans. India’s Supreme ...